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  • DUYURU 3

    Yayın politikamız

    gereği, yayinlanacak

    makale sayısı

    sınırlandırılmış,

    olduğundan Aralık 

    2019 sayısı

    dolmuştur.


    DUYURU 2

    Dergimiz ana

    sayfasında

    "Dergi Hakkında"

    kısmında belirtilen

    alanlar dışında

    yayın kabul 

    etmeyecektir.

     


    DUYURU 1

    Dergimizin 2019

    yılında "TR INDEX"

    kapsamında olduğu

    ULAKBİM tarafından

    yayınlanmıştır.


Abstract


TOTAL FACTOR PRODUCTIVITY AND ECONOMIC GROWTH: PANEL DATA ANALYSIS FOR DEVELOPING COUNTRIES
Understanding how economies are growing and explaining and why some countries are growing faster than other countries is one of the issues that maintain its appeal in every period. In traditional growth theories, the sources of economic growth have been accepted as labor, natural resources and especially physical capital. However, it is revealed that economic growth cannot be explained only by these factors depending on the changing economic and social conditions. Solow (1956), in his study, argued that growth does not depend primarily on capital and labor growth, but on the total factor productivity expressed as “Solow Residual”. In this study, the effect of total factor productivity on economic growth was analyzed by panel data technique for 20 developing countries using annual data for the period 1991-2017. In the empirical analysis section, firstly the cross-sectional dependence was tested with 〖CDLM〗_1 and 〖CDLM〗_2 tests, and then the stationary of the series was examined by MADF and Hadri-Kurozumi (2012) panel root tests. After investigating the slope homogeneity by Delta test, the long term regression coefficients of the model were estimated by CCE method. According to the estimation results, total factor productivity, labor and capital increase have positive and statistically significant effects on economic growth in all countries. It is determined that the effect of total factor productivity on economic growth varies from country to country and is higher than other variables. These results coincide with the Solow growth model, which argues that the main source of economic growth is total factor productivity.

Keywords
Economic Growth, Total Factor Productivity, Developing Countries, Panel Data Analysis


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